Question 1

You entered an invoice of $12500 in the receivable and created a receipt with the amount $15000 received from the customer.How will the system react if over application is enabled in transaction type while receipt is applied to the invoice?

Options :

A : Invoice balance is displayed as 0.

B : Invoice balance is displayed as 2500.

C : Invoice balance is displayed as 0 and Miscellaneous receipt is created with 2500.

D : Invoice balance is played as 0 and On account receipt is created with 2500.

Answer: B

Question 2

Which three benefits do intercompany reconciliation reports provide to an accountant?

Options :

A : Comparing receivables and payables account balances and identifying discrepancies.

B : Displaying intercompany receivables and payables balancing lines.

C : Identifying transaction portions (either receiver or provider side) that have not posted to General Ledger.

D : Displaying clearing company balancing lines.

Answer: A,B,C

Question 3

You have created a sales invoice for $900 USD with an item line of $750 USD and a tax rate of 20%. The customer has made a payment of $500 USD and you are required to process the cash application to apply the $500 USD to the item line and $0 USD to tax.How would you achieve this?

Options :

A : Set the credit classification revenue recognition policy to look for Line First and Tax Later.

B : Create a Memo Line or receivable activity to have the check box selected for Apply Item Line First.

C : Set Application Rule Set to Line First--Tax After at the transaction type level and/or a default value at system options.

D : Set Application Rule Set to Line First--Tax After at the transaction source level and/or a default value at the receipt method.

E : Set the payment terms revenue recognition policy to look for Line First and Tax Later

Answer: C

Question 4

Which flexfields are required to be used by auto invoice to identify transactions and transaction lines, if you load the interface using a customized form?

Options :

A : Linelevel transaction flexfield, Header-level transaction flexfield, Reference flexfield

B : Linelevel transaction flexfield, Header-level transaction flexfield

C : Linelevel transaction flexfield, Invoice transaction flexfield, Reference flexfield, Link to transaction flexfield

D : Linelevel transaction flexfield, Header-level transaction flexfield, Link to transaction flexfield

Answer: C

Question 5

As an implementer. while importing data from a legacy/third-parly system, you forgot to populate the accounting distribution in the RA_INTERFACE_DlSTRIBUTIONS_ALL table. What happens when you run accounting?

Options :

A : Invoice will get created but accounting will not be created.

B : It will return an error and the data will be stuck in the interface table.

C : Invoice will be created and the system will use the AutoAccounting configuration to create accounting.

D : Neither invoice nor accounting will be created.

Answer: C

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